Genesco buys licensed sports clothing chain

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Big sales from Genesco insiders

Investors who track insiders' activities won't find much to like at Genesco lately. In the past week, five of the shoe and hat retailer's top executives have unloaded more than $4.8 million worth of their shares as that paper (Ticker: GCO) has climbed to its highest levels of 2013. Here's a rundown:

Jim Estepa, boss of Genesco's retail group, sold more than $1.5 million worth of shares, trimming his holdings by a fifth.

• CFO Jim Gulmi unloaded just over $1 million of stock, roughly 8 percent of his stake in the company.

• General Counsel Roger Sisson exercised 20,000 options and sold the resulting shares for a profit of $1 million.

Ken Kocher, president of Hat World, added more than $760,000 to his bank account by selling a seventh of his stock holdings.

• Chairman, President and CEO Bob Dennis unloaded almost $570,000 worth of his stock. Of the sales, only his was consummated under the umbrella of a trading plan.

The execs' sales came two weeks after Genesco reported better-than-expected fiscal first-quarter numbers. It's worth noting that the consensus EPS estimate among analysts tracking the company has risen only 5 cents since, whereas the company's Q1 was 9 cents better than expected.

Jun 18, 2013 7:14 AM

Genesco buys clothing store chain

Locations in Kentucky, Oklahoma employ 150
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Building a winner

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